The Los Angeles County Employees Retirement Association , Pasadena...

The Los Angeles County Employees Retirement Association, Pasadena, Calif., plans to issue an RFP within a month for two to three investment managers to run an undetermined amount in active commodity futures, said Lisa Mazzocco, CIO. The $32.2 billion system will fund the new allocation, which will be up to 3% of total assets, by reducing its $11.8 billion domestic equity portfolio, but no specific manager or strategy has been selected for the cuts, she said. The allocation is being made for diversification. The association will post an RFP on its website at www.lacera.com, she said. Manager selections are expected in the first half of 2007.